- What Pamera bought a 5,350 sq m high-street asset in Berlin
- Why Due to its inner-city location, diversified tenant mix and ESG potential
- What next It plans to hold the asset long term
Pamera Real Estate Partners has bought a high-street asset in Berlin’s Charlottenburg-Wilmersdorf district from Quantum Immobilien.
The six-storey property on Wilmersdorfer Strasse 117 encompasses 5,350 sq m (57,590 sq ft) of space. Some 2,880 sq m are set aside for retail, 1,150 sq m for office and 1,000 sq m for residential use. Anchor tenants are drugstore Rossmann and Idee.Creativmarkt.
Quantum had bought the asset in 2015 from Commerz Real’s Hausinvest open-ended property fund, which held it on its books for €23.3m at the time. The property was built in 2001 and refurbished in 2020.
Christoph Zapp, founder and managing partner of Pamera, said: “The property convinced us not only with its very good, inner-city location and its sustainable, diversified tenant mix, but also with its good building structure and further ESG potential. We are currently looking into other acquisitions of this type in Germany.”
BNP Paribas Real Estate brokered the deal. Böttcher & Fischer Rechtsanwälte advised the buyer on legal matters, while Sozietät Noerr Partnerschaftsgesellschaft advised the seller. Argos Projektmanagement led technical due diligence for Pamera.
Munich-based Pamera is a multi-family office specialised in real estate investment. It manages 80 assets and projects worth more than €1.5bn.